Result of AGM
Workspace Group PLC announced the results of its Annual General Meeting, where all but one resolution passed, including the re-election of directors with at least 87.13% of votes cast excluding Saba's shares. Notably, Resolution 18, to disapply pre-emption rights, failed to pass with only 67.13% of votes in favour. Resolutions proposed by Saba Capital Management L.P. to appoint six new directors were all defeated, receiving a maximum of 13.30% of votes cast. The company expressed gratitude for shareholder support of its strategy and commitment to continued dialogue.
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Workspace Group PLC ("Workspace" or the "Company") held its Annual General Meeting ("AGM") today.
Workspace is pleased to announce that all but one of the resolutions proposed by the Company (Resolutions 1-17, 19 and 20), including those to elect and re-elect all of the current Directors, as set out in the Notice of the Annual General Meeting dated 19 June 2026, were duly passed on a poll at today's AGM.
None of the resolutions requisitioned by Saba Capital Management L.P. ("Saba") (Resolutions 21 to 26), proposing to appoint six nominees to the Board in place of the current Non-Executive Directors, was passed.
Resolution 18, proposed as a special resolution by the Company and requiring 75% approval, did not pass. Consequently, the Company is not permitted to disapply pre-emption rights with respect to the allotment of equity securities.
Excluding the shares voted by Saba, the lowest number of votes cast in favour of the election or re-election (as applicable) of the current Board of Directors, in line with the Board's unanimous recommendation, was 87.13% of the votes cast on each relevant resolution.1 Excluding the shares voted by Saba, the highest number of votes cast in support of the nominees proposed in Saba's requisitioned resolutions was 13.30% of the votes cast on all resolutions requisitioned by Saba.1
The Board continues to welcome open and constructive dialogue with all shareholders, including Saba, and commits to continue to engage with shareholders in relation to the outcome of today's resolutions.
All resolutions were voted on by way of a poll and details of the votes cast on each resolution are in the table below. The vote was supervised by Civica Election Services, whom the Board appointed as independent assessor to report on the poll held at the AGM.
Duncan Owen, Chair of Workspace, commented:
"Today the majority of our shareholders have voted decisively to back the Board and our existing strategy to deliver sustainable value for all shareholders. We are grateful for their support and are fully focused on the delivery of our strategy under Charlie and Tom's leadership.
We remain committed to open and constructive dialogue with all of our shareholders. The Board regularly reassesses the need for refreshment to ensure an appropriate balance of skills, experience, independence and diversity, and believes that this is best achieved through an orderly, structured and independent process that considers Workspace's long-term strategic needs and the interests of all of our shareholders. We look forward to engaging further with shareholders following the outcome of today's AGM as part of that process."
| RESOLUTION | VOTES FOR (including discretionary) | VOTES FOR (excluding Saba) 1 | VOTES AGAINST (including discretionary) | VOTES AGAINST (excluding Saba) 1 | TOTAL VOTES | VOTES WITHHELD* | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Number | % | Number | % | Number | % | Number | % | Number | % of ISC voted | |||
| Ordinary Resolutions unanimously recommended by the Board | ||||||||||||
| 1. | Receive and adopt 2026 Annual Report and Accounts | 117,780,639 | 68.69% | 117,780,639 | 100.00% | 53,682,554 | 31.31% | 4,710 | 0.00% | 171,463,193 | 88.99% | 799,720 |
| 2. | Approve 2026 Annual Remuneration Report | 117,724,022 | 68.65% | 117,724,022 | 99.93% | 53,760,162 | 31.35% | 82,318 | 0.07% | 171,484,184 | 89.00% | 778,729 |
| 3. | Approve Remuneration policy | 117,715,221 | 68.64% | 117,715,221 | 99.92% | 53,774,994 | 31.36% | 97,150 | 0.08% | 171,490,215 | 89.01% | 772,698 |
| 4. | Declare final dividend of 16.7p per ordinary share | 171,507,207 | 100.00% | 117,829,363 | 100.00% | 5,039 | 0.00% | 5,039 | 0.00% | 171,512,246 | 89.02% | 750,667 |
| 5. | Re-Elect Duncan Owen and increase maximum number of directors to the extent necessary | 114,900,023 | 66.99% | 114,900,023 | 97.51% | 56,614,520 | 33.01% | 2,936,676 | 2.49% | 171,514,543 | 89.02% | 748,370 |
| 6. | Elect Charlie Green and increase maximum number of directors to the extent necessary | 170,567,166 | 99.45% | 116,889,322 | 99.20% | 940,848 | 0.55% | 940,848 | 0.80% | 171,508,014 | 89.01% | 754,899 |
| 7. | Elect Tom Edwards-Moss and increase maximum number of directors to the extent necessary | 170,590,660 | 99.47% | 116,912,816 | 99.23% | 907,677 | 0.53% | 907,677 | 0.77% | 171,498,337 | 89.01% | 764,576 |
| 8. | Re-Elect Rosie Shapland and increase maximum number of directors to the extent necessary | 115,867,552 | 67.33% | 115,867,552 | 97.86% | 56,214,745 | 32.67% | 2,536,901 | 2.14% | 172,082,297 | 89.31% | 180,616 |
| 9. | Re-Elect Lesley-Ann Nash and increase maximum number of directors to the extent necessary | 116,416,534 | 67.65% | 116,416,534 | 98.32% | 55,661,685 | 32.35% | 1,983,841 | 1.68% | 172,078,219 | 89.31% | 184,694 |
| 10. | Re-Elect Manju Malhotra and increase maximum number of directors to the extent necessary | 116,455,328 | 67.67% | 116,455,328 | 98.36% | 55,625,495 | 32.33% | 1,947,651 | 1.64% | 172,080,823 | 89.31% | 182,090 |
| 11. | Re-Elect Nick Mackenzie and increase maximum number of directors to the extent necessary | 107,155,354 | 62.27% | 107,155,354 | 90.50% | 64,927,417 | 37.73% | 11,249,573 | 9.50% | 172,082,771 | 89.31% | 180,142 |
| 12. | Re-Elect David Stevenson and increase maximum number of directors to the extent necessary | 103,168,632 | 59.95% | 103,168,632 | 87.13% | 68,914,020 | 40.05% | 15,236,176 | 12.87% | 172,082,652 | 89.31% | 180,261 |
| 13. | Re-Appoint BDO LLP as auditors of the Company | 171,482,726 | 99.98% | 117,804,882 | 99.98% | 26,689 | 0.02% | 26,689 | 0.02% | 171,509,415 | 89.02% | 753,498 |
| 14. | Authorise the Board to set the auditor's remuneration | 171,477,225 | 99.98% | 117,799,381 | 99.97% | 34,015 | 0.02% | 34,015 | 0.03% | 171,511,240 | 89.02% | 751,673 |
| 15. | Authorise the Directors to allot shares | 113,524,929 | 66.19% | 113,524,929 | 96.34% | 57,986,455 | 33.81% | 4,308,611 | 3.66% | 171,511,384 | 89.02% | 751,529 |
| 16. | Authorise political donations | 117,349,899 | 68.43% | 117,349,899 | 99.60% | 54,145,281 | 31.57% | 467,437 | 0.40% | 171,495,180 | 89.01% | 767,733 |
| 17. | Approve 2026 LTIP | 117,695,161 | 68.63% | 117,695,161 | 99.91% | 53,788,963 | 31.37% | 111,119 | 0.09% | 171,484,124 | 89.00% | 778,789 |
| Special Resolutions unanimously recommended by the Board | ||||||||||||
| 18. | Authorise the disapplication of pre-emption rights in relation to allotments of equity securities | 115,100,609 | 67.13% | 115,100,609 | 97.72% | 56,359,790 | 32.87% | 2,681,946 | 2.28% | 171,460,399 | 88.99% | 802,514 |
| 19. | Authorise the Company to purchase its ordinary shares | 171,878,561 | 99.91% | 118,200,717 | 99.86% | 162,223 | 0.09% | 162,223 | 0.14% | 172,040,784 | 89.29% | 222,129 |
| 20. | Authorise calling general meetings on 14 clear days' notice | 170,294,470 | 99.31% | 116,616,626 | 99.00% | 1,183,069 | 0.69% | 1,183,069 | 1.00% | 171,477,539 | 89.00% | 785,374 |
| Ordinary Resolutions requisitioned by Saba | ||||||||||||
| 21. | Appoint Mr Shattock and increase maximum number of directors to the extent necessary | 55,489,444 | 32.24% | 1,811,600 | 1.53% | 116,601,464 | 67.76% | 116,601,464 | 98.47% | 172,090,908 | 89.32% | 172,005 |
| 22. | Appoint Mr Sim and increase maximum number of directors to the extent necessary | 69,425,736 | 40.34% | 15,747,892 | 13.30% | 102,668,780 | 59.66% | 102,668,780 | 86.70% | 172,094,516 | 89.32% | 168,397 |
| 23. | Appoint Mr Starr and increase maximum number of directors to the extent necessary | 60,280,304 | 35.03% | 6,602,460 | 5.58% | 111,814,356 | 64.97% | 111,814,356 | 94.42% | 172,094,660 | 89.32% | 168,253 |
| 24. | Appoint Mr Attwood and increase maximum number of directors to the extent necessary | 66,497,968 | 38.64% | 12,820,124 | 10.83% | 105,596,692 | 61.36% | 105,596,692 | 89.17% | 172,094,660 | 89.32% | 168,253 |
| 25. | Appoint Mr Garg and increase maximum number of directors to the extent necessary | 55,468,503 | 32.23% | 1,790,659 | 1.51% | 116,626,157 | 67.77% | 116,626,157 | 98.49% | 172,094,660 | 89.32% | 168,253 |
| 26. | Appoint Mr Hampton and increase maximum number of directors to the extent necessary | 55,468,566 | 32.23% | 1,790,722 | 1.51% | 116,625,972 | 67.77% | 116,625,972 | 98.49% | 172,094,538 | 89.32% | 168,375 |
Notes:
As of the date of the AGM, the total number of voting rights in the Company was 192,673,240.
The full text of all the resolutions can be found in the Notice of AGM, which is available for viewing on the Company's website (www.workspace.co.uk) and at the National Storage Mechanism (https://data.fca.org.uk/#/nsmnationalstoragemechanism). The rules of the 2026 LTIP as approved by shareholders at today's AGM (Resolution 17) and summarised in the Notice of AGM are also available for viewing at the National Storage Mechanism (https://data.fca.org.uk/#/nsmnationalstoragemechanism).
For media and investor enquiries, please contact:
Workspace Group PLC
Paul Hewlett, Director of Strategy & Corporate Development 020 7138 3300
Gregory Tinker, Corporate Communications Manager
FGS Global 020 7251 3801
Chris Ryall
Guy Lamming
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